Profit calculator: Discover out what you may declare as Brits miss out on £15bn assist

Seven million UK adults in trouble are missing out on key benefits like retirement loans, child benefits and tax rebates to help out in troubled times, new figures show.

More than £ 1.8 billion will not be taken for retirement loans while a staggering £ 974 million will not be taken for income support, according to the report by anti-poverty charity Turn2Us.

The figures show that 7.1 million people across the country are not seeking vital assistance to alleviate their financial problems – with a collective loss of £ 15.1 billion.

It found that the least claimed benefit is the council tax reduction – this applies if you are disabled, live alone, or receive a pension credit (for more information on council tax rebates, see here).

The second most common unclaimed assistance is universal credit – 1 million people are missing out on critical financial aid on top of the 6 million who joined the six-in-one benefit last year.

Are you eligible for additional assistance because of the difficulties you are facing?

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According to Turn2Us, 45% of people surveyed in the report have never checked what benefits they are entitled to, even though many of them have financial problems.

People over 55 were the least likely to ask for help, although retirees were the most vulnerable to age and access to basic services, especially during the pandemic. Overall, six out of ten retirees have never checked whether they are eligible for assistance.

In many cases, it turned out that claimants made drastic changes in their lives – which could have been avoided if they had verified what they were entitled to.

Manchester born Rob is one of thousands of people who were late checking what they might be entitled to.

The father suffered an accident a few years ago in which he could no longer work.

He sold his house to stay afloat – only to find out later that he could have claimed this additional funding through emergency government aid.

Bartender Ali told the charity a similar story. After losing his job during the pandemic, he began to survive on his savings.

It wasn’t until he’d spent it all that he realized he’d qualified for the universal loan.

But are you entitled to additional support to improve your financial situation?

To find out, we’ve teamed up with Charity Turn2Us to bring you the following performance calculator.

Performance Calculator – Find out if you can get additional help

Turn2Us found that those eligible for assistance could receive an average of £ 5,320 per year to help out with bills, rent, childcare and living expenses.

Simply fill in your details in the form below to find out what you can get help with.

For more information, please contact Turn2us or call 0808 802 2000.

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